Narvaez-Orucuta rematch is on

O.R. Promotions, which represents junior bantamweight titlist Omar Narvaez, won the rights to promote his mandatory defense (and rematch) against Felipe Orucuta at a purse bid at WBO headquarters in San Juan, Puerto Rico on Monday.

O.R. Promotions bid $401,500 to top an offer of $301,000 made by Tutico Zabala's All Star Boxing and said the fight would take place either Aug. 30 or Sept. 6 at a location to be determined in Argentina, Narvaez's home country.

Based on the WBO's formula for figuring the split of the purse, Narvaez is entitled to 74.72 percent of the winning bid ($300,001) and Orucuta gets 25.28 percent ($101,499).

Narvaez (42-1-2, 23 KOs), 38, who made 16 defenses of his flyweight belt before vacating to move up in weight, will be making his 11th junior bantamweight defense. He won a split decision against Orucuta (29-2, 24 KOs), 28, of Mexico, in Buenos Aires in May 2013.